SMART Wealth LLC Reduces Stock Holdings in Broadcom Inc. $AVGO

SMART Wealth LLC lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 66.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,526 shares of the semiconductor manufacturer’s stock after selling 5,038 shares during the quarter. SMART Wealth LLC’s holdings in Broadcom were worth $782,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AVGO. Norges Bank purchased a new stake in Broadcom in the fourth quarter valued at $24,252,196,000. Cardano Risk Management B.V. raised its stake in shares of Broadcom by 895.2% during the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after buying an additional 11,414,701 shares during the last quarter. State Street Corp raised its stake in shares of Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after buying an additional 5,040,801 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock valued at $1,858,789,000 after buying an additional 4,694,313 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after buying an additional 3,919,715 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AVGO shares. Erste Group Bank upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, June 5th. Benchmark lifted their price target on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Dbs Bank raised Broadcom to a “moderate buy” rating in a report on Thursday, June 18th. Evercore restated an “outperform” rating and issued a $582.00 price objective on shares of Broadcom in a research report on Tuesday, May 19th. Finally, Bank of America raised their price objective on shares of Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $493.24.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

Broadcom Price Performance

NASDAQ:AVGO opened at $360.45 on Friday. Broadcom Inc. has a 52 week low of $269.58 and a 52 week high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.71 trillion, a PE ratio of 60.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45. The stock’s 50-day moving average price is $407.92 and its 200-day moving average price is $362.33.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 EPS. As a group, equities analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s payout ratio is 43.33%.

Insiders Place Their Bets

In related news, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the sale, the director owned 32,352 shares of the company’s stock, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction on Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the sale, the insider directly owned 57,932 shares in the company, valued at $21,464,964.64. This represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 60,987 shares of company stock valued at $21,899,980. 1.90% of the stock is owned by insiders.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.